Chemco Enterprises is the manufacturer of Ultra-Dry, a hydrophobic coating that will waterproof anything. Over a 5-year period, the costs associated with the pilot test product line were as follows: first cost of $33,000 and annual costs of $18,000. Annual revenue was $30,000 and used equipment was salvaged for $4,000. What rate of return did the company make on this product?

The rate of return the company made on the product is _____%.

Suppose that a firm in a monopolistically competitive market has a cost function of TC= 100,000 + 20Q.

1. What is the marginal cost function?
2. If the price elasticity of demand is currently -1.5, what price should the firm charge?
3. What is the marginal revenue at the price computed in part b)?
4. If a competitor develops a substitute product and the price elasticity of demand increases to -3.0, what price should the firm now charge?

To reduce the budget deficit, the government creates new unit taxes that generate $3 billion in revenue. How will this affect total surplus (i.e., consumer surplus + producer surplus)? a. Total surplus will be unaffected b. Total surplus will fall by less than $3 billion c. Total surplus will fall by $3 billion d. Total surplus will fall by more than $3 billion

For a perfectly competitive market, daily demand for a good is given by P = 10 - Q, where P is price and Q is quantity. Supply is given by P = 2 + Q. Suppose the government imposes an excise tax of $2 on sellers in the market. (An excise tax is a tax per unit.)

(a) What is the tax revenue from the government and (b) what is the dead weight loss due to the tax policy?

Which of the following statements about a monopoly firm are true? (Check all that apply.)

Consider a team that chooses attendance Q(measured in millions) to maximize profit. Let the inverse demand curve be  

            P = 100 – 20Q

        which has the associated marginal revenue function equal to

            MR = 100 – 40Q

        Also, let the total cost function be given by

            TC = 50 + 4Q

        for which the marginal cost is MC= 4. Find the team’s optimal output, price, and profit.

Suppose the demand curve for a monopolist is QD = 47,000 - 50 P, and the marginal revenue function is MR = 940 - 0.04Q. The monopolist's Marginal Cost = 40 + 0.02Q and its Total Cost = 250,000 + 40Q + 0.01Q2.

a. Find the monopolist's profit-maximizing output and price.

b. calculate the monopolist's profit/losses, if any.

c. What is the Lerner Index for this industry at the monopolist's profit-maximizing output and price

1) What are the three inventory accounts used to record manufacturing cost? In what order are these accounts used?

2) To what "family" do inventory accounts belong - asset, liability, equity, revenue or expense? On what financial statement are they reported?

3) At what point do manufacuring costs leave the last inventory account and into what account are they moved? On what financial statement is this account reported?

Chapter 13

1) Describe the general types of barriers.

2) Competition keeps prices lower for consumers. So why do we have patent laws?

3) What is the relationship between the marginal revenue curve and the demand curve for a single-price monopolist?

4) "A profit-maximizing monopoly never produces an output in the inelastic range of its demand curve." True or false? Explain.

discuss emerging trends in the use of Internet currency such as bitcoin and how this has or may lead to fraudulent activities. As part of this state how you think this currency may impact GAAP especially as related to revenue recognition rules. DO NOT COPY THE ANSWER FROM THE OTHER QUESTIONS OR ARTICLES! i have done research and I want an EXPERTS answer, not something I can find with google!